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Sultan Almasoud

Partner

Sultan is Co-Managing Partner of Saudi Arabia. He focuses on mergers and acquisitions, corporate restructurings, IPOs, joint ventures, capital market transactions, private placements and all aspects of corporate and commercial legal matters.
Sultan is an expert on the legal framework of Saudi Arabia and has a thorough understanding of the local regulations and practices. This expertise allows him to effectively represent a wide range of local and international clients, (including corporate and private equity clients, sovereign wealth funds, multi-national corporates, large family conglomerates government entities) in Saudi Arabia.

Experience

Representative matters

The Public Investment Fund on the establishment of new special zones NEOM, the Red Sea, and the Royal Commission for Al-Ula.

NEOM Company on the founding law and implementing regulations for Financial Services, Companies, Insolvency, Consumer Protection, Ombudsman, Labour, Charities, Enterprise Registration and Arbitration.

Public Investment Fund on its acquisition of a significant minority stake in a joint venture company between Saudi Aramco and Jacobs Engineering.

NEOM Company, Saudi Arabia’s new city gigaproject development company, on a $8.4 billion green energy joint venture with ACWA Power and Air Products that will incorporate the region’s largest wind and solar renewables production projects (4GW in total), as well as a ground-breaking green hydrogen / green ammonia export project.

The Dow Chemical Company on its joint venture to establish a downstream petrochemicals facility in Saudi Arabia.

Public Investment Fund on its acquisition of a significant stake in a Japanese listed gaming company.

Amaala on all aspects of the development, construction and infrastructure and PPP strategy for the Amaala Project, a new tourism megaproject in Saudi Arabia.

The Public Investment Fund on a renewables joint venture.

A sovereign wealth fund on its investment in the $10 billion sale of Saudi Aramco’s oil pipelines. This transaction marks one of the world’s largest energy infrastructure deals in 2021.

HSBC Saudi Arabia on the $319 million asset sale of its retail brokerage, retail margin lending and entire asset management business (including investment funds and discretionary portfolio management) business to Alawwal Invest.

Baker Hughes on its entry into a joint venture agreement with Saudi Aramco to create a facility in the Kingdom of Saudi Arabia to manufacture non-metallic materials, which will be used in a variety of areas of the energy industry.

Nour Communications Co. Ltd on the sale of 62 per cent. of its shares in Nour Internet for Communication and Information Technology to Tech GCC Investment Company.

Underwriters on a $814 million bond offering by ACWA Power Management and Investments One Limited.

Goldman Sachs Saudi Arabia, acting as the financial advisor to The Saudi British Bank, on the merger with Alawwal Bank.

Japan Saudi Methanol Company (JSMC) on its sale of a 25% interest in Saudi Methanol Company (Ar-Razi) to SABIC.

A private equity client on a stake in a publicly listed company in Saudi Arabia.

Dussur on its defence joint venture with SAMI and FGEAC.

Dussur, as part of an international private equity consortium consisting of BroadPeak Global LP and Asia Green Fund, on the purchase of the Clean Technologies business of DuPont de Nemours, Inc. for $510 million in cash.

A consortium of Suez, Itochu and Five Capital on their acquisition of a 65% interest in Environmental Development Company, a waste management company in Jubail.

NMC Healthcare LLC on its proposed acquisition of a stake in a Saudi listed company.

NUPCO on its joint ventures, commercial contracts and legislative/policy requirements.

GE on the restructuring of its Saudi operations as part of the combination between GE and Baker Hughes.

Takween Advanced Industries on its rights issue on the Saudi Stock Exchange.

Raydan Cuisines & Restaurants Company, a Jeddah-based Arabic cuisine restaurant chain, on its initial public offering on the newly launched Parallel Market of the Saudi Stock Exchange.

Al Ahlia For Cooperative Insurance Company on their merger with Gulf Union Cooperative Insurance Company (previous firm experience).

The First Investor (investment arm of Barwa Bank) on its acquisition and leaseback of Radium and Qurtubah Residential Compounds in Riyadh (previous firm experience).

Jabal Omar Development Company on its joint venture with leading Saudi property management companies for the management of shopping malls and other retail properties owned by Jabal Omar in the Holy City of Mecca (previous firm experience).

Jabal Omar Development on its joint venture with Eaglewing, a leading Middle Eastern hotel management company (previous firm experience).

AlBaha Investment and Development Company, a Saudi-based investment company listed on the Main Market of the Saudi Stock Exchange, on its capital reduction (previous firm experience).

AlBaha Investment and Development Company on its acquisition of Elegant Centers Company (previous firm experience).

MetLife - AIG - ANB Cooperative Insurance Company on its rights issue on the Saudi Stock Exchange (previous firm experience).

Salama Cooperative Insurance Company on its rights issue on the Saudi Stock Exchange (previous firm experience).

Saudi Indian Cooperative Insurance Company (Wafa Insurance) on its rights issue on the Saudi Stock Exchange (previous firm experience).

Buruj Cooperative Insurance Company on its rights issue on the Saudi Stock Exchange (previous firm experience).

Al Habib Group and Jarir Investment Company on their sale of a minority stake in Asala Holding Company, a leading Saudi real estate company (previous firm experience).

NBK Capital on its exit from a Jeddah-based Hanco, a leading fleet leasing and rental company in Saudi (previous firm experience).

Published Work

  • Almasoud. S (2017) “Initial Public Offerings”, Saudi Arabia: Global Legal Insights

Speaking Engagements

  • Moderator, Successfully Delivering Megaprojects under the new Civil Transactions Law, Riyadh International Disputes Week, March 2024

Leadership Positions And Professional Affiliations

  • Board Member, The Advisory Committee at the Capital Market Authority (Saudi Arabia)
Recognition
Sultan is a trusted and capable Saudi lawyer who is our main point of contact and our go-to guy
Chambers Global, 2024
He shows strong leadership and strong local market knowledge
Chambers Global, 2024

Awards

  • Ranked Band 3 for Saudi Arabia Dispute Resolution, Chambers Global 2024
  • Ranked Band 4 for Saudi Arabia Corporate & Commercial, Chambers Global 2024
  • Highly regarded for Saudi Arabia Capital Markets and M&A, IFLR1000, 2023

Qualifications

Admissions

Saudi Arabia, 2010

Academic

LL.B., Law, King Saud University, 2001
LL.M., Law, Case Western Reserve University, 2004
Ph.D., Law, University of Hull, 2008

Languages

Arabic, English
Riyadh
We practise in the Kingdom of Saudi Arabia (KSA) through Allen & Overy Law Firm, a Simplified Joint Stock Company registered in the KSA with CR no. 1010987293 (paid up capital 100,000 SAR) and registered office at Servcorp, Laysen Valley, Building 13, Level 2, Salim Ibn Abi Bakr Shaikan, Umm Al Hamam Al Gharbi, Riyadh 12329, Saudi Arabia.
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.